In the past week, BTC has shown a short-term rebound. On October 11, BTC fell below the $60,000 support level and touched a bottom of $58,946, then quickly rebounded above $60,000 and fluctuated between $60,000 and $63,000. On October 14, the BTC price rose rapidly, until 6 AM on the 15th, BTC briefly broke through $66,000. As of the publication of the article, BTC is still at $65,000 (the above data is from Binance spot, 3:00 PM on October 15).
In the coming week, not only will there be intensive speeches by Federal Reserve officials, but with the release of macroeconomic data, the full-scale launch of the US stock earnings season, and further turmoil in local political and geopolitical relations, BTC may continue to fluctuate.
Market Analysis
The US stock bull market continues, with the Dow Jones and S&P reaching new highs
On October 14, driven by tech stocks and chip stocks, the US stock indexes collectively closed higher, with the Dow Jones and S&P reaching new highs. Against the backdrop of a general rise in chip stocks, NVIDIA set a new high.
Last Friday, the performance of Wells Fargo and JPMorgan Chase reached new highs, indicating a recovery in bank profits, and the market's optimistic expectations for a soft landing of the US economy have increased, driving the rise of tech stocks and chip stocks. Recently, the US stock market will usher in a new round of earnings season, with Citigroup, Bank of America, Goldman Sachs, Johnson & Johnson, TSMC, and Netflix all expected to release their earnings reports this week. The market may further react to this.
The crypto ETF market is expanding, and Monochrome will launch Australia's first Ethereum spot ETF on Cboe
The liquidity of the BTC spot ETF has increased, attracting more institutional investors to enter the market. According to HOD L1 5 Capital, last week the US BTC spot ETF increased its holdings by a total of 4,635 BTC, exceeding the BTC production in the same period (3,150 BTC). At the same time, market reports indicate that Monochrome Asset Management is preparing to launch Australia's first Ethereum spot ETF on Cboe.
The presidential election is evenly matched, and market uncertainty is increasing
US stocks have repeatedly hit new highs, but the US election is still one of the major events that the market is closely watching recently. Currently, the competition between the candidates has reached a stalemate, and polls show that Harris' approval rating is higher than Trump's, while Polymarket shows that Trump's approval rating is 10% higher than Harris'. Coupled with the sudden rise in government bond yields, the uncertainty of the Federal Reserve's monetary easing policy, and the increasing global geopolitical tensions, the uncertainty in the global market has increased significantly.
The world is accelerating the regulation of crypto assets, and the market is optimistic about the long-term popularization of crypto assets
US presidential candidate Harris has promised to push for a more clear regulatory framework for cryptocurrencies. The market believes that once the US regulatory framework is clear, a large amount of institutional capital will flow into the market, driving the further rise in the prices of BTC and other crypto assets.
At the same time, other countries are also actively promoting the regulation of crypto assets. According to Planet News, the Financial Services Commission of South Korea plans to establish a "Virtual Asset Committee" this month, which may hold its first meeting "as early as this month". This agency will operate under the jurisdiction of the Financial Services Commission (FSC), and the decision on the approval of the BTC ETF is one of the key agenda items. Meanwhile, the South African Revenue Service (SARS) has announced that it will include crypto assets in its compliance program. The tax authority is seeking information about crypto users from the Financial Sector Conduct Authority (FSCA) and crypto asset service providers.
Current Layout
Although US stocks have repeatedly hit new highs, with the increase in global market uncertainty, the market's risk aversion sentiment has increased significantly, and BTC's safe-haven attributes have attracted some market inflows. Many market analysts believe that against the backdrop of increasing global political and economic uncertainty, the crypto currency market will continue to receive capital inflows, especially the long-term outlook for BTC is optimistic, and BTC may test new price highs in the coming months.
It is recommended to closely monitor large transactions and market capital flows while maintaining prudence, reasonably allocate asset layouts, and lock in some profits in advance. For investors who are optimistic about BTC in the long run, they can use structured products or other wealth management tools for BTC-denominated appreciation, with fixed-income, shark fin, and trend-winning being relatively stable choices.
For experienced users who want to quickly accumulate BTC assets, Accumulator discounted cost-averaging can also be considered. Given the current high market price, Accumulator products allow investors to buy BTC at a discount to the market price, thereby reducing the overall cost in the process of gradual accumulation. It is suitable for those investors in the current market who hope to regularly buy and gradually accumulate BTC.
Of course, investors should also be reminded that investment has risks, and it is recommended to invest reasonably according to their own risk preferences and risk tolerance, and obtain investment returns on the basis of risk control.
As the world's leading one-stop crypto financial service platform, Matrixport provides users with a variety of asset management products, including dual-currency investment, snowball, shark fin, trend-winning, and seagull, as well as quantitative strategies and passive strategies. The above products support multi-currency investment and a wide range of investment cycles.
Disclaimer: The above content does not constitute investment advice, sales offer or purchase offer invitation to residents of Hong Kong Special Administrative Region, the United States, Singapore and other countries or regions where such offers or offer invitations may be prohibited by law. Digital asset trading may have great risks and volatility. Investment decisions should be made after carefully considering personal circumstances and consulting financial professionals. Matrixport is not responsible for any investment decisions based on the information provided in this content.
